UNIVERSITY OF NORTHERN IOWA
CEDAR FALLS, IOWA 50614
GENERAL INFORMATION FOR BOND RATING AGENCIES
As of
December 31, 2014
Dr. William Ruud
President
(319) 273-2566
Michael Hager
Senior Vice President for Administration and Financial Services
(319) 273-2382
Gary B. Shontz
Controller, University Secretary and Treasurer
(319) 273-3576
Table of Contents
Ten Year Headcount Enrollment Data
Ten Year Full-Time Equivalent (FTE) Enrollment Data
Ten Year Headcount Enrollment Projections
Freshmen Class Data
Graduate Student Data
Transfer Student Data
Geographical Distribution of Students
Full-Time/Part-Time Split of Students on a Headcount Basis
Four, Five and Six Year Graduation Percentages
Cost of Tuition and Mandatory Fees Per Academic Year
Residence System Data
Grants and Contracts Expenditures
Academic Building Revenue Bonds Issued and Outstanding
Academic Building Revenue Bonds Retired
Academic Building Revenue Bonds Tuition to Debt Service
Long-Term Debt - Residence System
Long-Term Debt - Field House
Long-Term Debt - Student Union
Long-Term Debt - Student Health System
Annual Debt Service Requirements - All Bond Issues
Annual Debt Service Requirements - All Notes Payable
Statement of Net Position
Statement of Revenues, Expenses and Changes In Net Position
Statement of Cash Flows
Staff Statistics
Highest Degrees Held by Faculty and Appointment Status
Collective Bargaining Representation
Retirement Programs
Schedule of State Appropriations
UNI Foundation - Statements of Financial Position
UNI Foundation - Statements of Activities Current Year
UNI Foundation - Statements of Activities Prior Year
UNI Foundation - Statements of Activities and Statements of Financial Position Ten Years
UNI Foundation Analysis of Alumni Giving
Endowment Statistics
Pell Grant Revenue
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24-25
26
27
28
29
30
31
32
33
34
35
36
37
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Headcount Enrollment Data
Fall 2005 Through Fall 2014
Student Level
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Lower Division
4,433
4,427
4,719
4,865
4,841
4,780
4,961
4,329
4,149
4,235
Upper Division
6,519
6,275
6,291
6,182
6,453
6,611
6,446
6,326
6,231
5,907
Total Undergraduate
10,952
10,702
11,010
11,047
11,294
11,391
11,407
10,655
10,380
10,142
1,112
1,113
1,157
1,372
1,301
1,291
1,237
1,161
1,283
1,195
449
445
442
489
485
519
524
457
496
114
Masters
Doctoral
Professional
NA
NA
NA
NA
NA
NA
NA
NA
NA
Non-degree
-
-
-
-
-
-
-
-
-
477
12,513
12,260
12,609
12,908
13,080
13,201
13,168
12,273
12,159
11,928
Totals
1
NA
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Full-Time Equivalent (FTE) Enrollment Data
Fall 2005 Through Fall 2014
Student Level
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Lower Division
4,003
3,991
4,207
4,440
4,374
4,315
4,152
3,944
3,744
3,794
Upper Division
5,798
5,632
5,649
5,573
5,829
5,986
5,903
5,686
5,599
5,325
Total Undergraduate
9,801
9,623
9,856
10,013
10,203
10,301
10,055
9,630
9,343
9,119
Masters
933
945
998
1,080
1,098
1,076
1,046
977
991
921
Doctoral
282
267
253
272
270
304
292
266
282
52
Professional
NA
NA
NA
NA
NA
NA
NA
NA
NA
Non-degree
-
-
-
-
-
-
-
-
-
219
11,016
10,835
11,107
11,365
11,571
11,681
11,393
10,873
10,616
10,311
Totals
2
NA
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Ten Year Headcount Enrollment Projections
Fall 2015 Through Fall 2024 (with Fall 2014 Actual)
Student Level
Actual
2014
Lower Division
4,235
4,425
4,547
4,612
4,652
4,696
4,719
4,734
4,756
4,786
4,866
Upper Division
5,907
5,712
5,629
5,633
5,681
5,737
5,788
5,840
5,879
5,902
5,931
Total Undergraduate
10,142
10,137
10,176
10,245
10,333
10,433
10,507
10,574
10,635
10,688
10,797
1,195
1,199
1,212
1,227
1,251
1,274
1,299
1,309
1,309
1,311
1,319
114
114
116
117
119
122
124
125
125
125
126
Masters
Doctoral
Professional
Non-degree
Totals
NA
2015
NA
2016
NA
2017
NA
2018
NA
2019
NA
2020
NA
2021
NA
2022
NA
2023
NA
2024
NA
477
478
483
490
500
508
519
522
523
524
526
11,928
11,928
11,987
12,079
12,203
12,337
12,449
12,530
12,592
12,648
12,768
3
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Freshmen Class Data
Fall 2005 Through Fall 2014
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Number of Freshmen
Applications
4,360
4,585
4,722
4,584
4,133
4,092
4,666
4,322
4,109
5,504
Number of Freshmen
Accepted
3,422
3,572
3,759
3,841
3,505
3,411
3,607
3,350
3,392
4,222
Percent of Freshmen
Applicants Accepted
78.5%
77.9%
79.6%
83.8%
84.8%
83.4%
77.3%
77.5%
82.6%
76.7%
Number of Freshmen
Enrolled
1,737
1,768
1,991
2,015
1,946
1,978
1,942
1,704
1,722
1,797
Percent of Accepted
Freshmen Enrolled
50.8%
49.5%
53.0%
52.5%
55.5%
58.0%
53.8%
50.9%
50.8%
42.6%
Average ACT Score
22.8
23.0
23.0
22.9
23.0
23.1
23.3
23.1
22.8
22.7
Average SAT Score
1088
1104
1095
1029
1103
1066
1219
1327
1153
1290
Percent of Freshmen
In Upper 50% of
High School Class
89.5%
88.7%
89.3%
85.4%
76.4%
78.5%
84.0%
84.6%
81.6%
85.9%
Percent of Freshmen
In Upper 30% of
High School Class
56.7%
57.5%
53.8%
50.6%
52.3%
51.5%
56.2%
57.2%
55.2%
57.3%
Percent of Freshmen
In Upper 20% of
High School Class
39.1%
37.6%
36.1%
37.7%
36.0%
35.1%
36.7%
39.0%
37.1%
37.7%
Percent of Freshmen
In Upper 10% of
High School Class
19.0%
18.2%
17.6%
16.6%
16.9%
17.3%
18.5%
20.0%
18.1%
17.7%
Freshmen one-year
Retention Rate
82.1%
82.3%
83.7%
82.3%
82.5%
82.0%
81.3%
82.9%
84.7%
n/a
4
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Graduate Student Data
Fall 2005 Through Fall 2014
2005
Number of Graduate
Student Applications
2006
2007
2008
2009
2010
2011
2012
2013
2014
938
1,093
1,143
1,159
1,166
1,113
1,515
1,333
1,511
1,266
Number of Graduate
Students Accepted
Percentage
543
57.9%
636
58.2%
671
58.7%
785
67.7%
640
54.9%
543
48.8%
861
56.8%
811
60.8%
895
59.2%
689
54.4%
Number of Graduate
Students Enrolled
Percentage
410
75.5%
386
60.7%
427
63.6%
403
51.3%
445
69.5%
413
76.1%
616
71.5%
563
69.4%
638
71.3%
485
70.4%
5
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Transfer Student Data
Fall 2005 Through Fall 2014
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Number of Transfer
Student Applications
2,019
1,980
1,932
1,896
1,822
1,929
1,958
1,782
1,745
1,871
Number of Transfer
Students Accepted
Percentage
1,577
78.1%
1,487
75.1%
1,468
76.0%
1,455
76.7%
1,470
80.7%
1,503
77.9%
1,436
73.3%
1,405
78.8%
1,291
74.0%
1,155
61.7%
Number of Transfer
Students Enrolled
Percentage
1,201
76.2%
1,117
75.1%
1,077
73.4%
1,052
72.3%
1,088
74.0%
1,138
75.7%
1,041
72.5%
985
70.1%
912
70.6%
904
78.3%
6
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Geographical Distribution of Students
Fall, 2014
--Iowa Residents-Number
Percent
Freshman Class Only
1,651
91.9%
--Iowa Residents-Number
Percent
---Residents of-----Other States--Number
Percent
112
6.2%
---Residents of-----Other States--Number
Percent
----Residents of-----Other Countries-Number
Percent
34
1.9%
----Residents of-----Other Countries-Number
Percent
-----Total----Number
Percent
1,797
100.0%
-----Total----Number
Percent
Total Enrollment:
Undergraduates
Graduates
9,052
1,439
75.9%
12.1%
603
208
5.0%
1.7%
487
139
4.1%
1.2%
10,142
1,786
85.0%
15.0%
10,491
88.0%
811
6.7%
626
5.3%
11,928
100.0%
7
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Full-Time/Part-Time Split of Students on a Headcount Basis
Fall, 2005 through Fall, 2014
--Undergraduate-------Students-----
-----Graduate--------Students----
-------Total----------Students-----
Full
Time
Full
Time
Full
Time
Part
Time
Part
Time
Part
Time
Fall, 2005
89.3%
10.7%
43.6%
56.4%
83.6%
16.4%
Fall, 2006
89.8%
10.2%
44.3%
55.7%
84.0%
16.0%
Fall, 2007
89.8%
10.2%
43.3%
56.7%
83.9%
16.1%
Fall, 2008
90.8%
9.2%
39.3%
60.7%
83.4%
16.6%
Fall, 2009
91.0%
9.0%
43.7%
56.3%
84.6%
15.4%
Fall, 2010
91.1%
8.9%
42.5%
57.5%
86.3%
13.7%
Fall, 2011
89.5%
10.5%
42.1%
57.9%
83.2%
16.8%
Fall, 2012
90.8%
9.2%
42.2%
57.8%
84.4%
15.6%
Fall, 2013
89.9%
10.1%
35.9%
64.1%
82.0%
18.0%
Fall, 2014
89.9%
10.1%
33.4%
66.6%
81.5%
18.5%
8
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Four, Five and Six Year Graduation Percentages
For Freshmen Classes Entering Fall, 2001 through Fall, 2010
Graduating in
Four Years
Graduating in
Five Years or less
Graduating in
Six Years or less
Fall, 2001
32.3%
60.0%
65.0%
Fall, 2002
33.5%
58.9%
63.0%
Fall, 2003
35.2%
62.5%
66.5%
Fall, 2004
35.2%
61.7%
67.0%
Fall, 2005
36.5%
62.2%
66.7%
Fall, 2006
38.5%
63.1%
66.3%
Fall, 2007
39.3%
62.4%
66.5%
Fall, 2008
37.8%
60.9%
63.8%
Fall, 2009
37.6%
63.7%
Fall, 2010
39.2%
Freshman class entering:
9
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Cost of Tuition and Mandatory Fees Per Academic Year
2005-06 through 2014-15
2005-06
Undergraduate Tuition:
Resident
Non-Resident
Graduate Tuition:
Resident
Non-Resident
Full Room & Board
Total for an Undergraduate
Resident Student
$
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
2014-15
5,602
13,214
6,112
14,028
6,190
14,282
6,376
14,596
6,636
14,900
7,008
15,348
7,350
16,106
7,635
16,721
7,685
17,181
7,749
17,647
6,420
14,244
6,962
15,100
7,084
15,392
7,298
15,726
7,596
16,052
8,026
16,534
8,418
17,352
8,743
18,013
8,793
18,507
9,013
19,007
5,519
5,940
6,268
6,790
6,960
7,120
7,426
7,597
7,820
8,046
11,121
12,052
12,458
13,166
13,596
14,128
14,776
15,232
15,505
15,795
Tuition and fees are set annually by the Board of Regents. The College of Business Administration has a supplemental
tuition for students who are a declared major in the College of Business Administration and are classified as a junior,
senior or graduate student.
A residence hall activity fee is assessed in addition to the double room rate. The fee was $12 per semester through
Spring 2007. Beginning in Fall 2007, the fee was increased to $20 per semester.
10
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Residence System Data
Fall, 2005 Through Fall, 2014
Minimum
Design
Capacity
Fall, 2005
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
Fall, 2013
Fall, 2014
5,231
5,022
4,974
4,977
4,977
4,977
4,929
4,952
5,198
4,873
Occupancy
4,257
4,396
4,537
4,723
4,719
4,778
4,625
4,413
4,355
4,386
Double
Room
Rate
Percent
Occupied
81.4%
87.5%
91.2%
94.9%
94.8%
96.0%
93.8%
89.1%
83.8%
90.0%
$
$
$
$
$
$
$
$
$
$
5,519
5,740
6,268
6,790
6,960
7,120
7,426
7,597
7,820
8,046
Note 1: A residence hall activity fee is assessed in addition to the double room rate.
The fee was $12 per semester through Spring 2007. Beginning in Fall 2007, the fee
was increased to $20 per semester.
Note 2: Minimum design capacity and occupancy are for single student housing.
11
Percent
Increase
4.90%
4.00%
9.20%
8.33%
2.50%
2.30%
4.30%
2.30%
2.94%
2.89%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Grants and Contracts Expenditures
2004-05 Through 2013-14
Fiscal
Year
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
Gross Grants
and Contracts
Expenditures
Pell Grant
Expenditures
Net Grants
and Contracts
Expenditures
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$
$ 21,447,784
$ 21,068,698
$ 23,993,982
$ 24,149,744
$ 28,696,083
$ 30,486,162
$ 30,270,851
$ 26,786,403
$ 24,479,507
$ 22,149,078
28,471,518
27,301,163
30,003,325
31,184,200
36,358,154
41,413,487
42,463,921
38,241,967
35,348,882
32,422,732
7,023,734
6,232,465
6,009,343
7,034,456
7,662,071
10,927,325
12,193,070
11,455,564
10,869,375
10,273,654
Note: Gross grants and contracts expenditures include Pell Grant
expenditures.
12
Percent
Change
8.3%
-1.8%
13.9%
0.6%
18.8%
6.2%
-0.7%
-11.5%
-8.6%
-9.5%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Academic Building Revenue Bonds
Bonds Issued and Outstanding
As of December 31, 2014
Series 1994 (Refunding) (1)
$
Amount
Principal
Balance
Issued
Repaid
Outstanding
2,180,000
2,000,000
180,000
Series 1994 (2)
9,201,461
8,909,725
291,736
Series 2002 (Refunding) (3)
4,890,000
4,405,000
485,000
Series 2003 (Refunding) (4)
8,465,000
7,530,000
935,000
Series 2005 (Refunding) (5)
5,110,000
3,010,000
2,100,000
12,800,000
2,615,000
10,185,000
Series 2007 (7)
8,000,000
1,255,000
6,745,000
Series 2008 (8)
12,000,000
250,000
11,750,000
Series 2009 (9)
13,860,000
50,000
13,810,000
76,506,461
30,024,725
46,481,736
Series 2005 (6)
$
Notes:
(1)
Purpose: To provide funds to refund Academic Building Revenue Project Notes, Series UNI 1991.
(2)
Purpose: To provide funds to construct, equip and improve a Wellness/Recreation Center and replace and equip the
Price Laboratory School Field House, and fund fire safety and deferred maintenance projects on campus.
(3)
Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1991.
(4)
Purpose: To provide funds to refund the Academic Building Revenue Bonds, Series UNI 1992 and UNI 1993.
(5)
Purpose: To provide funds to refund the Academic Building Revenue Refunding Bonds, Series UNI 1995.
(6)
Purpose: To provide funds to renovate and equip the University's Science Buildings and Russell Hall.
(7)
Purpose: To provide funds to renovate and equip the University's Science Buildings and Russell Hall.
(8)
Purpose: To provide funds to renovate and equip the Electrical Distribution Loop System Phase II, Sabin Hall, and
deferred maintenance projects.
(9) Purpose: To provide funds to renovate and equip the Electrical Distribution Loop System, Sabin Hall, fire
and environmental safety, deferred maintenance, and campus security improvements.
13
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Academic Building Revenue Bonds
Bonds Retired
As of December 31, 2014
Amount
Issued
Principal
Repaid
Balance
Outstanding
Series 1971 (1)
$3,330,000
3,330,000
-
Series 1972 (2)
3,500,000
3,500,000
-
Series 1977 (3)
8,775,000
8,775,000
-
Series 1981 (4)
5,315,000
5,315,000
-
Series 1983 (5)
8,515,000
8,515,000
-
Series 1987 (Refunding) (6)
5,250,000
5,250,000
-
Series 1987 (7)
6,000,000
6,000,000
-
Series 1988 (8)
8,200,000
8,200,000
-
Series 1991 (9)
5,530,000
5,530,000
-
Series 1992 (Refunding) (10)
5,975,000
5,975,000
-
Series 1993 (Refunding) (11)
6,520,000
6,520,000
-
Series 1992 (12)
3,900,000
3,900,000
-
Series 1993 (13)
7,440,000
7,440,000
-
Series 1995 (14)
5,810,000
5,810,000
-
Series 1996 (Refunding) (15)
7,600,000
7,600,000
-
Series 2003A (Refunding) (16)
4,225,000
4,225,000
-
$95,885,000
95,885,000
-
Notes:
(1) Purpose: To pay the cost of construction of a Classroom and Office Building (Education), construction of Biological
Research and Small Animal Building, and equipment for Education Center Unit #1.
(2) Purpose: To pay the cost of construction of Library - Phase 2, for general remodeling, and general utilities costs.
(3) Purpose: To pay the cost of construction of a coal-fired boiler replacement and auxiliaries, and miscellaneous general
utility and remodeling projects.
(4) Purpose: To provide for the completion of a turbine generator, energy and fire safety programs, renovations on an
academic building, and various campus utility projects.
(5) Purpose: To provide funds for the construction and equipping of a Communication Arts Center. The debt was extinguished by the Series 1992 Academic Building Refunding Bonds.
(6) Purpose: To provide funds to advance refund the Series 1981 Academic Building Revenue Bonds.
(7) Purpose: To provide initial funding for the construction and equipping of a Classroom and Office Building (School of
Business), renovation of Latham Hall, and acquisition of instructional, research and computation equipment.
(8) Purpose: To provide funding for the construction and equipping of a Classroom and Office Building
(School of Business) and renovation of Latham Hall.
(9) Purpose: To provide funding to remodel and equip Seerley Hall and for fire safety projects.
(10) Purpose: To provide funds to advance refund the Series 1983 Academic Building Revenue Bonds.
(11) Purpose: To provide funds to advance refund the Series 1987 Academic Building Revenue Bonds.
(12) Purpose: To provide funds to defray cost of fire and environmental safety improvements, deferred maintenance,
equipment and utility projects.
(13) Purpose: To provide funds for constructing, furnishing and equipping a fourth floor addition to the Donald O. Rod
Library.
(14) Purpose: To provide funds to construct, equip and improve a Wellness/Recreation Center and replace and equip the
Price Laboratory School Field House, and fund fire safety and deferred maintenance projects on campus.
(15) Purpose: To provide funds to advance refund the Series 1988 Academic Building Revenue Bonds.
(16) Purpose: To provide funds to advance refund the Series 1993 (Refunding) Academic Building Revenue Bonds.
14
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Academic Building Revenue Bonds
Ratio of Available Tuition to Debt Service
2004-05 Through 2013-14
Fiscal
Year
Pledged
General
Fund
Tuition
Maximum
Debt
Service
Maximum
Debt Service
Ratio
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
$ 57,835,715
$ 58,158,455
$ 61,801,075
$ 63,770,724
$ 67,272,293
$ 71,581,019
$ 76,542,266
$ 80,775,769
$ 77,792,170
$ 76,245,813
$4,772,450
$5,391,685
$5,900,854
$6,287,353
$7,116,493
$7,116,493
$6,905,283
$6,492,948
$6,492,948
$4,322,678
12.12
10.79
10.47
10.14
9.45
10.06
11.08
12.44
11.98
17.64
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
to 1
The bond indenture requires coverage of 1.25 times maximum annual debt
service. Maximum annual debt service is defined as the largest sum of
principal and interest payable in any subsequent fiscal year. Coverage is
computed as tuition income plus tuition discount divided by maximum
annual debt service. Tuition income plus tuition discount in 2013-14 was
$76,245,813 and the maximum annual debt service was $4,322,678
Coverage was 17.64 times maximum annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Academic Building Revenue Bonds.
15
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Residence System
As of December 31, 2014
Amount
Issued
Principal
Repaid
4,255,000
16,790,000
10,160,000
24,870,000
13,810,000
69,885,000
1,565,000
2,490,000
2,765,000
1,380,000
2,390,000
10,590,000
Amount
Issued
Principal
Repaid
6,250,000
3,050,000
6,200,000
9,145,000
7,000,000
14,040,000
9,535,000
9,210,000
64,430,000
6,250,000
3,050,000
6,200,000
9,145,000
7,000,000
14,040,000
9,535,000
9,210,000
64,430,000
Balance
Outstanding
Dormitory Revenue Bonds Outstanding
Series 2010
Series 2010A
Series 2010B
Series 2011
Series 2012
$
$
2,690,000
14,300,000
7,395,000
23,490,000
11,420,000
59,295,000
Dormitory Revenue Bonds Retired
Series 1964
Series 1965-C
Series 1967-C
Series 1992
Series 1999
Series 2000
Series 2002
Series 2003
$
$
Balance
Outstanding
-
Residence System revenue bonds were issued for the construction, renovation and
equipping of residence halls, food service buildings and apartment housing.
The Residence System revenue bonds mature on July 1, 2033.
The bonds are payable solely from the net rents, profits, and income of the system.
The bond indenture requires coverage of 1.35 times maximum annual debt service.
Maximum annual debt service is defined as the largest sum of principal and interest
payable in any subsequent fiscal year. Coverage is computed as net income divided
by the maximum annual debt service. Net income in 2013-14 was $12,287,000 and
the maximum annual debt service was $6,769,000. Coverage was 1.82 times maximum
annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Residence System Revenue Bonds.
16
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Field House
As of December 31, 2014
Amount
Issued
Principal
Repaid
Balance
Outstanding
Field House Revenue Bonds Outstanding
Series 2005 (Refunding)
Series 2011 (Refunding)
Series 2013 (Refunding)
$
$
7,465,000
3,610,000
4,815,000
15,890,000
3,315,000
870,000
385,000
4,570,000
4,150,000
2,740,000
4,430,000
11,320,000
Field House Revenue Bonds Retired
Series 1997
Series 2001
Series 2004
$
$
Amount
Issued
Principal
Repaid
9,150,000
5,625,000
10,000,000
24,775,000
9,150,000
5,625,000
10,000,000
24,775,000
Balance
Outstanding
-
The Series 2004 bonds were issued for the construction of the McLeod Center. The 2005
bonds were issued to refund the 1997 bonds, which were issued to replace the air supported
roof of the UNI-Dome and to make other repairs. The 2011 bonds were issued to refund
the 2001 bonds, which were issued to repair the UNI-Dome. The 2013 bonds were issued to
refund the 2004 bonds.
The bonds are payable from operating income, a Field House student fee, and interest income.
The bond indenture required coverage of 1.20 times the annual debt service. Coverage is
computed as net income plus the System Fund balance divided by annual debt service.
Net income in 2013-14 was $1,314,000 and the System Fund balance was $6,932,000.
Annual debt service was $1,522,000. Coverage was 5.42 times annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Field House Revenue Bonds.
17
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Student Union
As of December 31, 2014
Amount
Issued
Principal
Repaid
Balance
Outstanding
Student Union Revenue Bonds Outstanding
Series 2011 Refunding
$ 8,425,000
2,150,000
6,275,000
12,755,000
-
Student Union Revenue Bonds Retired
Series 2002 Revenue Bonds
$ 12,755,000
The Series 2011 bonds were dated August 1, 2011. They were issued to refund the Series
2002 bonds, which were issued to renovate and expand the Student Union.
The bonds are payable from operating income and a Student Union fee.
The bond indenture requires coverage of 1.20 times the annual debt service. Coverage is
computed as net income plus the System Fund balance divided by annual debt service.
Net income in 2013-14 was $1,155,000 and the System Fund balance was $1,925,000,
Annual debt service was $896,000. Coverage was 3.44 times annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Student Union Revenue Bonds.
18
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Long-Term Debt - Student Health System
As of December 31, 2014
Amount
Issued
Principal
Repaid
Balance
Outstanding
Student Health System Revenue Bonds
Series 2013 Refunding
$ 2,435,000
195,000
2,240,000
3,875,000
-
Student Health System Revenue Bonds
Series 2004 Revenue Bonds
$ 3,875,000
The Series 2004 bonds were issued on March 1, 2004 to expand the Student Health Center.
The Series 2013 bonds were dated May 1, 2013. They were issued to refund the Series 2004 bonds.
The bonds are payable from operating income and a Student Health Fee.
The bond indenture requires coverage of 1.20 times annual debt service.
Coverage is computed as net income plus the System Fund balance divided by annual debt
service. Net income in 2013-14 was $546,000, the System Fund balance was $1,820,000.
Annual debt service was $253,000. Coverage was 9.35 times annual debt service.
Please reference Note V entitled "Segment Reporting" in the University's
Comprehensive Annual Financial Report to view the financial statements of
Student Health System Bonds.
19
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Annual Debt Service Requirements - All Bond Issues
As of December 31, 2014
Year
Ended
June 30
Academic
Buildings
Total
Residence
System
Total
6,492,947.50
3,888,102.50
4,044,267.50
4,108,155.00
4,208,387.50
4,225,335.00
3,781,597.50
3,800,350.00
3,799,831.26
3,773,006.26
3,767,456.26
3,765,625.00
3,807,237.50
2,066,000.00
2,046,000.00
2,048,500.00
2,072,250.00
2,066,000.00
2,081,000.00
2,046,000.00
2,063,250.00
2,063,250.00
6,749,590.01
6,748,065.01
6,738,385.01
6,739,865.01
6,255,582.51
6,258,907.51
5,765,057.51
4,533,920.01
4,527,395.01
2,474,236.25
2,477,386.25
2,483,843.75
2,494,975.00
2,500,100.00
2,506,500.00
2,508,400.00
1,255,800.00
1,271,200.00
1,279,200.00
-
1,546,287.50
1,544,800.00
1,531,200.00
1,511,800.00
1,510,900.00
1,517,275.00
1,516,025.00
1,521,675.00
509,400.00
515,000.00
-
902,325.00
897,825.00
894,450.00
886,950.00
889,000.00
895,300.00
895,700.00
870,350.00
-
250,712.50
251,612.50
252,412.50
248,112.50
248,812.50
249,412.50
249,912.50
250,312.50
250,612.50
250,512.50
-
15,941,862.51
13,330,405.01
13,460,715.01
13,494,882.51
13,112,682.51
13,146,230.01
12,208,292.51
10,976,607.51
9,087,238.77
7,012,755.01
6,244,842.51
6,249,468.75
6,302,212.50
4,566,100.00
4,552,500.00
4,556,900.00
3,328,050.00
3,337,200.00
3,360,200.00
2,046,000.00
2,063,250.00
2,063,250.00
$
72,014,548.78
75,568,408.84
13,224,362.50
7,131,900.00
2,502,425.00
170,441,645.12
Required
Debt Service
Reserve
$
4,322,678.00
6,115,950.71
1,467,700.00
842,500.00
243,500.00
12,992,328.71
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
Field
House
Total
20
Student
Union
Total
Student
Health
Total
Grand
Total
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Annual Debt Service Requirements - All Notes Payable
As of December 31, 2014
Year
Ended
June 30
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
McLeod Center
City of Cedar Falls
Note
Human Performance
Energy Saving
Center
Projects
Wells Fargo Bank Iowa Finance Authority
Note
Note
Power Plant
Projects
Wells Fargo Bank
Note
Total
Debt Service
on
Notes Payable
$
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
15,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
253,407.16
253,407.16
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
109,529.00
13,814.45
584,670.41
584,670.42
584,670.42
584,670.40
584,670.40
584,670.42
584,670.40
584,670.41
584,670.40
584,670.41
962,606.57
962,606.58
709,199.42
709,199.40
709,199.40
709,199.42
709,199.40
709,199.41
709,199.40
613,484.86
15,000.00
15,000.00
15,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
10,000.00
$
395,000.00
506,814.32
999,575.45
5,846,704.09
7,748,093.86
Note: After $300,000 has been repaid on the City of Cedar Falls note, the University is permitted to request
the City of Cedar Falls forgive the remaining $200,000.
21
UNIVERSITY OF NORTHERN IOWA
Statement of Net Position
June 30, 2014 and 2013
2014
ASSETS
Current Assets:
Cash and cash equivalents
Investments
Accounts receivable, net
Notes receivable, net
Interest receivable
Due from government agencies
Prepaid expenses and other current assets
Inventories
Total Current Assets
$
Noncurrent Assets:
Investments
Accounts receivable, net
Notes receivable, net
Prepaid expenses
Capital assets, Nondepreciable
Capital assets, Depreciable, net
Total Noncurrent Assets
Total Assets
LIABILITIES
Current Liabilities:
Accounts payable
Salaries and wages payable
Unpaid claims and contingent liabilities
Unearned revenue
Interest payable
Long-term debt
Other long-term liabilities
Deposits held in custody for others
Total Current Liabilities
Noncurrent Liabilities:
Accounts payable
Other long-term liabilities
Long-term debt
Total Noncurrent Liabilities
Total Liabilities
NET POSITION
Net investment in capital assets
Restricted
Nonexpendable
Expendable
Unrestricted
Total Net Position
$
22
2013
Restated
20,588,882
55,591,450
9,882,201
1,906,269
543,356
5,144,840
4,704,216
2,338,194
100,699,408
27,183,314
52,702,131
7,891,332
1,922,902
543,063
5,582,212
4,400,707
3,874,453
104,100,114
41,075,265
962,328
7,600,153
114,382
9,146,477
377,289,971
436,188,576
536,887,984
35,506,824
10,400
7,691,608
87,044
50,881,918
339,280,582
433,458,376
537,558,490
10,566,918
736,803
1,783,788
5,477,006
3,076,806
10,912,763
5,481,989
4,389,810
42,425,883
12,984,534
718,157
1,580,470
3,862,246
2,899,419
16,518,242
5,248,865
3,837,306
47,649,239
26,662,561
132,349,070
159,011,631
201,437,514
565,755
24,075,365
138,346,559
162,987,679
210,636,918
254,034,901
251,763,463
615,895
29,898,129
50,901,545
335,450,470
615,895
27,347,015
47,195,199
326,921,572
UNIVERSITY OF NORTHERN IOWA
Statement of Revenues, Expenses and Changes in Net Position
Years Ended June 30, 2014 and 2013
2014
REVENUES
Operating Revenues:
Tuition and fees, net of scholarship allowances of
$25,424,620 for 2014 and $25,334,812 for 2013
Federal grants and contracts
State and local grants and contracts
Nongovernmental grants and contracts
Sales and services of educational activities
Interest on student loans
Other operating revenue
Auxiliary enterprises
Total Operating Revenues
$
EXPENSES
Operating Expenses:
Instruction
Research
Public service
Academic support
Student services
Institutional support
Operation and maintenance of plant
Scholarships and fellowships
Depreciation/amortization
Other operating expenses
Auxiliary enterprises
Total Operating Expenses
Operating (Loss)
NONOPERATING REVENUES (EXPENSES):
State appropriations
Federal grants and contracts
Nonfederal gifts, grants and contracts
Investment income
Interest on indebtedness
Loss on disposal of capital assets
Net Nonoperating Revenues
(Loss) Before Other Revenues
OTHER REVENUES:
Capital appropriations
Capital gifts, grants and contracts
Total Other Revenues
Change in Net Position
NET POSITION
Net position, beginning of year, restated
Net position, end of year
$
23
2013
Restated
64,320,008
16,662,776
2,053,427
3,320,222
6,403,218
226,660
562,860
57,101,721
150,650,892
65,107,140
18,481,032
2,102,578
3,613,871
4,937,703
245,250
726,808
56,344,034
151,558,416
86,505,596
2,982,535
25,052,740
22,489,903
9,636,281
26,066,570
21,166,860
3,381,347
18,040,748
193,945
50,774,324
266,290,849
82,764,796
3,138,471
24,325,404
21,731,295
9,005,372
26,441,182
21,423,526
4,983,383
16,095,251
281,264
50,975,515
261,165,459
(115,639,957)
(109,607,043)
96,910,269
10,270,339
3,827,149
3,644,079
(5,463,353)
(2,428,923)
106,759,560
(8,880,397)
87,662,815
10,860,223
3,101,932
1,464,982
(5,529,028)
(2,381,912)
95,179,012
(14,428,031)
14,177,141
3,232,154
17,409,295
8,528,898
14,082,733
1,193,696
15,276,429
848,398
326,921,572
326,073,174
335,450,470
326,921,572
UNIVERSITY OF NORTHERN IOWA
Statement of Cash Flows
Years Ended June 30, 2014 and 2013
2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Tuition and fees
Grants and contracts receipts
Collections of loans from students
Auxiliary enterprise receipts
Payments for salaries and benefits
Payments for goods and services
Scholarships
Loans issued to students
Auxiliary enterprise payments
Interest on loans to students
Other operating receipts
Net Cash Used by Operating Activities
$
2013
Restated
63,699,063
22,715,923
1,867,217
57,445,885
(153,286,305)
(40,255,576)
(3,269,564)
(1,674,133)
(50,797,775)
215,804
6,734,551
(96,604,910)
65,023,543
23,486,916
1,942,424
56,726,230
(146,566,463)
(39,385,145)
(4,753,974)
(2,002,004)
(50,610,728)
203,168
5,775,564
(90,160,469)
CASH FLOWS FROM NONCAPITAL FINANCING ACTIVITIES:
State appropriations
William D. Ford direct lending and plus loans receipts
William D. Ford direct lending and plus loans made
Agency receipts
Agency payments
Noncapital gifts
Net Cash Provided by Noncapital Financing Activities
96,968,644
58,551,372
(58,586,203)
3,334,949
(3,426,106)
13,987,909
110,830,565
87,771,867
61,718,237
(61,754,965)
2,572,995
(3,336,070)
13,716,705
100,688,769
CASH FLOWS FROM CAPITAL AND RELATED FINANCING ACTIVITIES:
Capital appropriations received
Capital gifts and grants received
Acquisition of capital assets
Proceeds from sale of capital assets
Principal paid on capital debt
Interest paid on capital debt
Proceeds from capital debt
Other capital and related financing receipts
Other capital and related financing payments
Net Cash Used by Capital and Related Financing Activities
14,177,141
1,167,716
(15,288,930)
359,380
(16,467,891)
(5,349,219)
5,000,000
2,322
(16,399,481)
14,107,438
3,236,021
(33,753,051)
115,845
(27,394,171)
(6,448,905)
16,052,512
326,198
(142,440)
(33,900,553)
CASH FLOWS FROM INVESTING ACTIVITIES:
Interest and dividends on investments
Proceeds from sale and maturities of investments
Purchase of investments
Net Cash Provided/(Used) by Investing Activities
463,833
38,990,007
(43,874,446)
(4,420,606)
677,483
76,909,661
(60,658,988)
16,928,156
NET DECREASE IN CASH AND CASH EQUIVALENTS
(6,594,432)
(6,444,097)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR
27,183,314
33,627,411
20,588,882
27,183,314
CASH AND CASH EQUIVALENTS, END OF YEAR
$
24
UNIVERSITY OF NORTHERN IOWA
Statement of Cash Flows
Years Ended June 30, 2014 and 2013
2014
2013
Restated
RECONCILIATION OF OPERATING LOSS TO NET CASH
USED BY OPERATING ACTIVITIES
Operating loss
$
Adjustments to reconcile operating loss to net cash used by operating activities:
Depreciation/amortization
(Increase)/Decrease in accounts receivable
(Increase)/Decrease in notes receivable
(Increase)/Decrease in due from government agencies
(Increase)/Decrease in inventories
(Increase)/Decrease in prepaid expenses
(Increase)/Decrease in other assets
Increase/(Decrease) in accounts payable
Increase/(Decrease) in salaries and wages payable
Increase/(Decrease) in unearned revenue
Increase/(Decrease) in other liabilities
Net Cash Used By Operating Activities
$
Noncash Capital, Financing and Investing Activities:
Equipment with a fair value of $1,605,842 was donated to the University in 2014.
Net unrealized gain increased the fair value of the University's investments $3,928,656 in 2014
and $481,974 in 2013.
25
(115,639,957)
(109,607,043)
18,040,748
385,596
108,089
(180,746)
1,536,259
(398,476)
16,907
(2,479,983)
(67,645)
1,615,008
459,290
16,095,251
(61,869)
484,499
(146,701)
832,809
(388,087)
(23,458)
2,794,136
(45,552)
(231,824)
137,370
(96,604,910)
(90,160,469)
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Staff Statistics (Full Time Employees)
September, 2005 through September, 2014
Executive/Managerial
Institutional Officials
Academic Administrators
Professional & Scientific
Faculty
Professor
Associate Professor
Assistant Professor
Instructor
Faculty-Term/Renewable Term
Professor
Associate Professor
Assistant Professor
Instructor
Professional/Scientific
Secretarial/Clerical
Merit Supervisory
Merit Confidential
Merit AFSCME
Technical-AFSCME
Skilled Crafts-AFSCME
Merit AFSCME
Merit Supervisory
Service/Maintenance
Merit AFSCME
Merit Supervisory
Total
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
15
47
34
15
44
35
16
50
37
15
53
42
15
57
40
13
50
35
13
46
35
13
47
35
13
44
36
13
45
39
160
205
143
48
165
209
133
50
163
209
122
51
166
204
127
53
176
202
121
47
174
205
119
48
177
207
123
45
169
200
114
36
170
202
120
33
164
201
134
32
1
1
0
49
523
1
0
0
41
530
1
0
1
38
541
1
0
2
37
570
1
0
1
38
577
0
0
2
39
578
0
0
3
60
603
0
0
2
35
592
0
0
0
36
609
0
0
1
46
622
46
9
232
33
46
7
229
31
45
5
230
31
43
5
227
30
42
4
226
27
42
4
210
24
18
16
230
22
17
16
221
20
16
17
216
20
16
17
216
21
64
4
64
4
58
4
59
4
56
4
55
0
55
0
56
0
59
0
59
0
215
22
213
26
218
27
223
29
223
26
219
25
214
27
203
25
204
24
212
23
1,851
1,843
1,847
1,890
1,883
1,842
1,894
1,801
1,819
1,861
26
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Highest Degrees Held by Faculty (All Persons of Faculty Rank)
Fall, 2005 through Fall, 2014
Ph.D.
Fall, 2005
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
Fall, 2013
Fall, 2014
63.0%
63.6%
64.3%
59.4%
62.6%
62.9%
64.9%
66.2%
65.7%
63.8%
Ed.S.
MA/MS
0.4%
0.2%
0.4%
0.2%
0.2%
0.2%
0.4%
0.4%
0.4%
0.2%
29.6%
30.5%
30.5%
33.0%
31.7%
31.1%
30.1%
30.5%
31.0%
34.0%
B.A./B.S.
7.0%
5.7%
4.8%
7.4%
5.5%
5.8%
4.6%
2.9%
2.9%
2.0%
Total
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
Appointment Status (All Persons of Faculty Rank)
Fall, 2005 through Fall, 2014
Tenure
Fall, 2005
Fall, 2006
Fall, 2007
Fall, 2008
Fall, 2009
Fall, 2010
Fall, 2011
Fall, 2012
Fall, 2013
Fall, 2014
53.8%
56.3%
56.6%
54.1%
57.7%
56.2%
56.0%
57.4%
56.2%
53.5%
Probation Temporary
17.4%
16.1%
15.0%
15.4%
15.7%
14.8%
15.3%
14.2%
14.9%
15.9%
27
23.0%
22.7%
23.6%
25.8%
21.7%
24.1%
21.0%
23.7%
24.5%
25.2%
Term
5.8%
4.9%
4.8%
4.7%
4.9%
4.9%
7.7%
4.7%
4.4%
5.4%
Total
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
100.0%
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, IA 50614
Collective Bargaining Representation
As of November 30, 2014
Bargaining
Unit
Number
Employees
Represented
Bargaining
Agent
End of
Current
Contract
Faculty
United Faculty
738
June 30, 2015
Regents Merit System
AFSCME-Clerical
AFSCME-Blue Collar
AFSCME-Security
AFSCME-Technical
215
254
17
21
June 30, 2015
June 30, 2015
June 30, 2015
June 30, 2015
AFSCME-Total
507
Note: United Faculty count includes tenured professors plus temporary
instructors.
28
University of Northern Iowa
Notes to Financial Statements
June 30, 2014
Retirement Programs
Teachers Insurance and Annuity Association - The University contributes to the Teachers
Insurance and Annuity Association (TIAA) retirement program, which is a defined contribution
plan. TIAA administers the retirement plan for the University. The defined contribution retirement
plan provides individual annuities for each plan participant. The Board of Regents, State of Iowa
establishes and amends the plan’s provision and contribution requirements. As required by the
Board of Regents, State of Iowa policy, all eligible University employees must participate in a
retirement plan from the date they are employed. Contributions made by both employer and
employee vest immediately. As specified in the contract with TIAA, each employee through the
fifth year of employment contributes 3 1/3% of the first $4,800 of earnings and 5% on the balance
of earnings. The University, through the fifth year of employment, is required to contribute 6 2/3%
of the first $4,800 of earnings and 10% on earnings above $4,800. Upon completion of five years
of service, the participant contributes 5% and the University 10% on all earnings. During
fiscal years 2014 and 2013, the University's required and actual contribution amounted to
$11,109,967 and $11,003,152, respectively. During fiscal years 2014 and 2013, the employees'
required and actual contribution amounted to $5,270,083 and $5,208,018, respectively.
Iowa Public Employees’ Retirement System - The University contributes to the Iowa Public
Employees’ Retirement System (IPERS), which is a cost-sharing multiple-employer defined benefit
pension plan administered by the State of Iowa. IPERS provides retirement and death benefits
which are established by State statute to plan members and beneficiaries. IPERS issues a publicly
available financial report that may be obtained by writing to IPERS, P.O. Box 9117, Des Moines,
Iowa 50306-9117.
Plan members were required to contribute 5.95% of their annual covered earnings and the
University was required to contribute 8.93% of annual covered earnings for the year ended
June 30, 2014. For the years ended June 30, 2013 and 2012, plan members were required to
contribute 5.78% and 5.38%, respectively, of the annual covered earnings and the University was
required to contribute 8.67% and 8.07%, respectively, of annual covered earnings. Contribution
requirements are established by State statute. The University's contribution to IPERS for the years
ended June 30, 2014, 2013 and 2012 were $1,386,177, $1,169,233 and $1,046,545, respectively,
equal to the annual required contributions.
29
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Schedule of State Appropriations
Year Ended June 30, 2015
and the Four Previous Years
2010-11
2011-12
2012-13
2013-14
2014-15
Note
Operating Appropriations:
General Educational Fund
$
General Educational Fund-Supplemental
Recycling & Reuse Transfer Center
Economic Development
Real Estate Education
Math & Science Education Collaborative
South West Iowa Continuing Educ
North West Iowa Continuing Educ
Grow Iowa Values Fund
Regents Innovation Fund
77,549,809
1,456,118
181,858
610,674
130,022
1,800,000
90,766
729,600
-
74,734,586
175,256
574,716
125,302
1,734,656
87,471
288,000
-
81,113,859
175,256
574,716
125,302
4,700,000
182,734
900,000
83,222,819
6,000,000
175,256
1,066,419
125,302
5,200,000
202,734
76,114
900,000
89,176,732
4,000,000
175,256
1,066,419
125,302
5,200,000
900,000
$
82,548,847
77,719,987
87,771,867
96,968,644
100,643,709
$
5,808,082
-
5,767,007
380,000
6,279,038
-
3,910,141
380,000
6,281,522
-
4
5
-
1,000,000
7,786,000
10,267,000
1,947,000
6
5,808,082
7,147,007
14,065,038
14,557,141
8,228,522
1
2
2
3
3
Capital Appropriations:
Tuition Replacement
ADA & Fire Safety
Bartlett Hall Renovation/Baker
Hall Demolition
$
Notes:
1. One-time funding.
2. Continuing Education Center funds will be managed by the University of Iowa beginning in F2015.
3. The Grow Iowa Values Fund was re-named the Regents Innovation Fund.
4. Tuition Replacement Appropriation is to the Board of Regents. Allocated based on institutional need. F2014 allocation was small
due to overfunding of the Debt Service Reserve.
5. ADA & Fire Safety Appropriation is to the Board of Regents. $380,000 of $2 million allocated to UNI.
6. The Iowa General Assembly appropriated $21.0 million over four years for Bartlett Hall Renovation/Baker Hall Demolition.
30
UNIVERSITY OF NORTHERN IOWA FOUNDATION
Combined Statements of Financial Position
June 30, 2014 and 2013
ASSETS
2014
Current Assets:
Cash and cash equivalents
Investments
Pledges receivable, net
Other receivables
Other
$
2013
621,966
18,404,719
1,498,326
158,291
123,918
299,641
15,699,751
2,900,814
119,215
119,932
20,807,220
19,139,353
4,559,364
108,887,771
1,444,554
693,865
151,082
11,898,503
88,721,097
1,377,593
786,465
125,608
115,736,636
102,909,266
$
136,543,856
122,048,619
$
1,384,947
275,581
103,676
68,909
400,564
273,270
103,676
67,950
1,833,113
845,460
1,686,824
770,464
382,104
1,483,688
796,971
401,629
Total Noncurrent Liabilities
2,839,392
2,682,288
Total Liabilities
4,672,505
3,527,748
Net Assets:
Unrestricted
Temporarily restricted
Permanently restricted
8,892,299
40,986,283
81,992,769
6,213,459
33,826,387
78,481,025
Total Net Assets
131,871,351
118,520,871
136,543,856
122,048,619
Total Current Assets
Noncurrent Assets:
Pledges receivable, less current portion
Long-term investments
Life insurance cash value
Building and equipment, net
Other
Total Noncurrent Assets
Total Assets
LIABILITIES AND NET ASSETS
Current Liabilities:
Accounts payable, accrued expenses and other liabilities
Annuities payable
Annuity trusts payable
Unitrusts payable
Total Current Liabilities
Noncurrent Liabilities:
Annuities payable, less current portion
Annuity trusts payable, less current portion
Unitrusts payable, less current portion
Total Liabilities and Net Assets
$
31
UNIVERSITY OF NORTHERN IOWA FOUNDATION
Combined Statements of Activities
Years Ended June 30, 2014 and 2013
2014
Unrestricted
Net Assets
Temporarily
Restricted
Net Assets
Permanently
Restricted
Net Assets
1,218,826
3,960,925
24,212
6,858,754
10,509,485
16,078
3,271,503
622,319
-
11,349,083
15,092,729
40,290
(676,588)
10,710,093
676,588
(10,710,093)
-
-
15,237,468
7,350,812
3,893,822
26,482,102
4,557,282
4,593,058
911,902
2,225,306
22,280
92,600
173,811
-
54,385
-
4,557,282
4,593,058
911,902
2,225,306
250,476
92,600
156,200
17,105
327,693
500,998
12,558,628
190,916
382,078
13,131,622
Change in net assets
2,678,840
7,159,896
3,511,744
13,350,480
Net assets, beginning of year
6,213,459
33,826,387
78,481,025
118,520,871
8,892,299
40,986,283
81,992,769
131,871,351
Revenue, support and reclassifications:
Contribution revenue
Investment return
Miscellaneous income
Reclassifications attributed to
underwater endowments
Net assets released from restrictions
$
Total revenue, support
and reclassifications
Expenses and adjustments:
Scholarship expenses
Programming expenses
Administrative expenses
Fundraising expenses
Uncollectible pledges (recoveries)
Depreciation expense
Present value liability actuarial
adjustment
Total expenses and adjustments
Net assets, end of year
$
32
Total
Net
Assets
2013
Unrestricted
Net Assets
Temporarily
Restricted
Net Assets
Permanently
Restricted
Net Assets
1,977,972
3,404,515
25,600
7,372,808
4,937,329
12,082
18,432,305
384,503
-
27,783,085
8,726,347
37,682
(458,732)
7,950,895
458,732
(7,950,895)
-
-
18,816,808
36,547,114
12,900,250
3,557,135
4,083,296
952,470
2,150,803
40,535
92,601
11,253
10,888,093
4,830,056
Total
Net
Assets
(17,706)
-
(38,982)
-
3,557,135
4,083,296
952,470
2,150,803
(16,153)
92,601
17,194
204,249
232,696
165,267
11,052,848
(512)
2,012,157
4,830,568
18,651,541
25,494,266
4,201,302
28,995,819
59,829,484
93,026,605
6,213,459
33,826,387
78,481,025
118,520,871
33
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Statements of Activities Information
Ten Years Ended June 30, 2014
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
Public
Support
Revenue
9,602,331
8,612,375
8,682,789
14,357,954
8,871,816
14,240,782
20,684,179
12,727,393
27,783,085
11,349,083
5,462,740
8,000,324
10,990,294
(2,186,131)
(14,914,020)
8,528,000
12,609,404
(965,412)
8,764,029
15,133,019
Total
15,065,071
16,612,699
19,673,083
12,171,823
(6,042,204)
22,768,782
33,293,583
11,761,981
36,547,114
26,482,102
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Statements of Financial Position Information
Ten Years Ended June 30, 2014
Net
Assets
Liabilities
Assets
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
86,213,841
83,501,092
88,830,577
88,251,749
68,250,535
78,046,400
100,269,128
97,019,194
122,048,619
136,543,856
20,439,439
9,899,375
11,014,996
9,054,421
6,539,363
5,413,940
4,981,140
3,992,589
3,527,748
4,672,505
34
65,774,402
73,601,717
77,815,581
79,197,328
61,711,172
72,632,460
95,287,988
93,026,605
118,520,871
131,871,351
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
UNI Foundation-Analysis of Alumni Giving
Ten Years Ended June 30, 2014
Fiscal
Year
Total
Living
Alumni
Total
Solicitable
Alumni
Amount
Contributed
Alumni
Contributing
Average
Contribution
Percent of
Living Alumni
Making
Contributions
Percent of
Solicitable
Alumni
Making
Contributions
2004-05
90,797
86,883
$4,141,475
11,343
$365
12.5%
13.1%
2005-06
93,116
89,287
$4,277,838
11,823
$362
12.7%
13.2%
2006-07
94,906
91,272
$3,978,347
12,482
$319
13.2%
13.7%
2007-08
96,843
93,187
$5,355,525
11,779
$455
12.2%
12.6%
2008-09
99,128
95,231
$3,511,517
11,267
$312
11.4%
11.8%
2009-10
101,198
97,190
$3,514,234
11,128
$316
11.0%
11.4%
2010-11
103,259
99,293
$3,282,161
10,390
$316
10.1%
10.5%
2011-12
105,404
101,409
$3,495,317
10,330
$338
9.8%
10.2%
2012-13
106,911
103,264
$4,040,317
9,796
$412
9.2%
9.5%
2013-14
109,010
105,304
$4,761,834
9,418
$506
8.6%
8.9%
35
UNIVERSITY OF NORTHERN IOWA
Endowment Statistics
Five Years Ended June 30, 2014
June 30, 2010
June 30, 2011
June 30, 2012
June 30, 2013
June 30, 2014
$50,033,967
11,571
$4,324
14.82%
$68,826,959
11,681
$5,892
18.45%
$67,927,125
11,393
$5,962
-1.32%
$82,689,237
10,873
$7,605
10.56%
$101,260,056
10,616
$9,538
10.56%
$6,954,419
11,571
$601
10.30%
$7,950,913
11,681
$681
21.63%
$7,540,078
11,393
$662
0.96%
$7,872,488
10,873
$724
11.18%
$8,658,438
10,616
$816
11.18%
$56,988,386
11,571
$4,925
$76,777,872
11,681
$6,573
$75,467,203
11,393
$6,624
$90,561,725
10,873
$8,329
$109,918,494
10,616
$10,354
UNI Foundation Only:
Endowment Assets at Market
FTE Students (Fall Term)
Per FTE Student
Endowment Return
University of Northern Iowa Only:
Endowment Assets at Market
FTE Students (Fall Term)
Per FTE Student
Endowment Return
Combined:
Endowment Assets at Market
FTE Students (Fall Term)
Per FTE Student
36
UNIVERSITY OF NORTHERN IOWA
Cedar Falls, Iowa 50614
Pell Grant Revenue
2004-05 Through 2013-14
Fiscal
Year
2004-05
2005-06
2006-07
2007-08
2008-09
2009-10
2010-11
2011-12
2012-13
2013-14
Revenue
$
$
$
$
$
$
$
$
$
$
7,023,734
6,232,465
6,007,080
7,036,719
7,654,491
10,913,366
12,213,433
11,466,659
10,860,223
10,270,339
37
Percent
Change
-6.4%
-11.3%
-3.6%
17.1%
8.8%
42.6%
11.9%
-6.1%
-5.3%
-5.4%